The leaders of the G7’s leading Western economies will support China’s competitor in the Belt Road initiative on Sunday, planning to mobilize billions of dollars to help developing countries tackle climate change.
Biden is urging poor countries to offer a new source of infrastructure funding by providing a “democratic” alternative to Chinese loans, which are seen in the West as a tool to expand Beijing’s influence.
In: G7 summit Cornwall will agree on what the summit’s allies, Boris John Onson, call the “Green Belt Road” program, and richer nations will help fund programs to reduce carbon emissions.
John Onson wants to focus on supporting green initiatives, and was wary of presenting the initiative as an “anti-Chinese” move. British officials say they want the G7 to “show what we are for and not against”.
But the White House prefers a wider package of infrastructure assistance and clearly wants to counterbalance China’s influence.
“We are focusing a little bit narrower,” said a British official.
On Saturday, G7 leaders held talks to coordinate China’s strategy. “There was a general agreement that we should work with Beijing on climate change, compete in areas such as global supply chains, and compete on issues such as human rights,” said one official.
The Recover for the Better World program will allow countries to improve access to finance for low-carbon projects such as wind farms and railways.
The plan aims to boost climate financing from multilateral development banks, as well as the private sector, which has been described by some officials as the Green Marshall Plan, but on a smaller scale.
G7 leaders are expected to commit to increasing their investment in international climate finance to mobilize $ 100 billion a year from rich countries to meet a pre-existing goal of helping poor countries support green growth.
However, an official following the discussions said. “It was a little bit of a detail on how to get it.”
A high-ranking US official said on Friday. “The United States շատ many of our partners և friends around the world have long been skeptical of the China Belt Road Initiative.
“We have seen the Chinese government show a lack of transparency, low environmental and labor standards, an approach that has left many countries in a worse position,” he said.
“But so far we have not offered a positive alternative that reflects our values, our standards – our way of doing business.”
Environmental groups have criticized the lack of details about how the project will be funded and how it will work, forcing some to warn that it is nothing more than empty promises.
Climate change is one of the top priorities of the G7 leaders at the summit, but the leaders are struggling to reach an agreement on finances. Only Germany, Canada, Japan, Italy and Italy are expected to announce new climate financing in Cornwall.
The leaders of the G7 promise to stop gasoline-diesel cars and to stop the operation of coal plants that do not use emission collection technology as soon as possible. They also promise to protect 30 percent of the planet’s land and ocean by 2030.
Hosting the COP26 Climate Summit in the UK in November, the Cornwall Summit this weekend is set to predict how the world’s largest industrial democracies will approach the international climate crisis.
Several climate groups were not impressed, saying that the “Build Better” project seemed vague and weak.
“We do not yet know the timing of the announcements, the scale, they are already empty promises,” said Catherine Petengel, interim director of the UK Climate Action Network.
People familiar with the process said that the UK was relatively late in trying to implement its green infrastructure program. An official watching Saturday’s G7 debate said occasion onson seemed to mix up the names of different schemes on one occasion.
John Onson said. “The G7 has an unprecedented opportunity to bring about a global green industrial revolution that can transform our way of life.”
All G7 countries are committed to achieving zero carbon emissions by 2050, making climate policy an area of broad agreement. Disagreements over co-financing for co-financing have nevertheless led to difficult negotiations over the final language of the leaders’ message.
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